Income tax in Argentina

Argentina

Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...

 is collected solely by the Government of Argentina

Government of Argentina

The government of Argentina, functioning within the framework of a federal system, is a presidential representative democratic republic. The President of Argentina is both head of state and head of government. Executive power is exercised by the President. Legislative power is vested in both the...

, to the exclusion of the Provinces of Argentina

Provinces of Argentina

Argentina is subdivided into twenty-three provinces and one autonomous city...

. Argentina uses a system of progressive taxation on personal income

Total personal income

Total personal income is defined by the United States' Bureau of Economic Analysis asincome received by persons from all sources. It includes income received from participation in production as well as from government and business transfer payments...

 that is collected as a deferred tax, a flat rate tax on business income (company tax, 35%), and a stamp tax of 1.5% on the total value of real property

Real property

In English Common Law, real property, real estate, realty, or immovable property is any subset of land that has been legally defined and the improvements to it made by human efforts: any buildings, machinery, wells, dams, ponds, mines, canals, roads, various property rights, and so forth...

, whether it gained or lost value (rather than 1.5% being applied only to realised capital gains); there is also an ad valorem property tax

Property tax

A property tax is an ad valorem levy on the value of property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state or a municipality...

 on other assets such as vehicles. There is also a 0.6% tax on all bank transactions. Argentina’s income tax system contains a complex array of deductions and offsets, and is administered by the Administración Federal de Ingresos Públicos (AFIP).

In 2005, the wealth tax

Wealth tax

A wealth tax is generally conceived of as a levy based on the aggregate value of all household holdings actually accumulated as purchasing power stock , including owner-occupied housing; cash, bank deposits, money funds, and savings in insurance and pension plans; investment in real estate and...

 (0.5% to 2.5%), value-added tax (21%; up from 18% in 1994), and excise taxes on electronics, tobacco, alcohol, soft drinks, perfumes, jewelry, precious stones, vehicles, tires, mobile phone services, insurance policies, gasoline, lubricating oils, and other items. There is no inheritance tax

Inheritance tax

An inheritance tax or estate tax is a levy paid by a person who inherits money or property or a tax on the estate of a person who has died...

. Corporate taxes are levied at 35% for domestic and foreign companies. Provincial and municipal governments impose various taxes.

External links

http://docs.google.com/viewer?a=v&q=cache:8kkx2RYMtIkJ:https://www.pkf.com/site/webdav/site/pkf/shared/Intranet/International%2520Tax%2520other%2520attachments/Country%2520Tax%2520Guides%2520in%2520PDF/Argentina%2520Tax%2520Guide%25202009.pdf+argentina+taxes&hl=en&gl=us&pid=bl&srcid=ADGEEShviC5pSCCcGaO5DY3ZmaH3l_GB6amF1Km5VBh6hPLb-6FsrEp8dzAXHGaK23756_RFeHhB4VmgqH2fyDBMA3BN7BVqim6SqUMwstTIbIWovLlIok7baDVMBbxVlMJMj96By-lX&sig=AHIEtbRVYCax-SKVUTd-7zvBvluVNnEFUQ2009 tax guide]

Brief, partial list of taxes